Newmont Mining Corporation’s $109 Million Investment in Continental Gold


Dentons Cardenas & Cardenas has advised on the deal

Newmont Mining Corporation (“Newmont”) has agreed to purchase 37.38 million common shares of Continental Gold Inc. at a price of C$4.00 per share for a total investment of US$109 million in a non-brokered private placement.

Concurrently with Newmont’s investment in Continental, RK Mine Finance Master Fund I Limited (“Red Kite”) has also agreed to purchase 8.59 million common shares of the Company on a private placement basis at a price of C$4.00 per share for a total investment of US$25 million, as contemplated in Continental’s secured project credit facility (the “Credit Facility”) with Red Kite.

After giving effect to the private equity placements, Newmont and Red Kite will own approximately 19.9% and 4.6%, respectively, of the issued and outstanding common shares of Continental on a non-diluted basis.

The private placements will not close before May 18, 2017 post receipt of regulatory approvals, including by the Toronto Stock Exchange.

Dentons Cardenas & Cardenas has advised Newmont Mining Corporation Ltda. with Bernardo Cárdenas (Picture), James Valdiri, Felipe Hernández, Martín Vásquez, Juan Camilo Fandiño, Julián Graciano and Pedro Santamaría.

Involved fees earner: Bernardo Cárdenas – Dentons – Cárdenas & Cárdenas; Felipe Hernández – Dentons – Cárdenas & Cárdenas; Martín Vásquez – Dentons – Cárdenas & Cárdenas; Julián Graciano – Dentons – Cárdenas & Cárdenas; James Valdiri – Dentons – Cárdenas & Cárdenas; Juan Camilo Fandiño – Dentons – Cárdenas & Cárdenas;

Law Firms: Dentons – Cárdenas & Cárdenas;

Clients: Newmont Mining Corporation Ltda;

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Author: Ambrogio Visconti.